Tuesday, 30 September 2014
Last updated 15 hours ago
Jul 20 2011 | 11:21am ET
Michael Cardillo, the former Galleon Group trader whose testimony helped sink a former colleague last month, will pay $68,520 to settle the Securities and Exchange Commission's lawsuit against him.
Cardillo, who pleaded guilty to securities fraud and conspiracy in January, had been cooperating with prosecutors secretly prior to his plea. While he agreed to testify against Galleon founder Raj Rajaratnam, he was not called as a witness in that trial, which ended in Rajaratnam's conviction on all counts. He did, however, testify against former Galleon trader Zvi Goffer, who was convicted last month alongside his brother and a third man, Michael Kimelman.
Cardillo's settlement covers the profits he made trading on insider information and penalties.
No sentencing date has been set for Cardillo in the criminal case.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.